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Property News16 May 2018

21 of 30 New Futura units sold over weekend

ST 20180516 BIZYOFUTURA 3988291

The upmarket New Futura condo has sold 21 of the 30 units released over the weekend at its 60-unit North Tower.

They were snapped up at an average price of around $3,500 per sq ft (psf), said developer City Developments Limited (CDL) yesterday.

Most of the buyers in this second-phase soft launch were permanent residents (PRs) and foreigners, who targeted the larger apartments of up to $10 million each.

CDL, which began previews on May 11, said it has also seen "robust demand" for the 64-unit South Tower that was soft launched in January. It has sold 62 apartments, or 97 per cent, at an average price of around $3,350 psf. This included the 7,836 sq ft penthouse, which went for $36.28 million or $4,630 psf.

CDL said 72 per cent of the buyers were foreigners and PRs, mainly from Asia, including China, Indonesia, Malaysia and Korea.

North Tower's penthouse, which is the same size as the one at South Tower, remains unsold.

The freehold New Futura in Leonie Hill Road in prime District 9 has 124 units in all.

Besides the two five-bedroom penthouses, it has 28 two-bedroom units of 1,098 sq ft to 1,367 sq ft, and 54 three-bedroom units of 1,830 sq ft. There are also 20 four-bedroom units of 2,250 sq ft and another 20 of 2,691 sq ft with higher ceilings in the dining area.

All units have private lift access, and the penthouses come with a 13m-long private pool, a sauna and a shower by the pool deck.

There is also a two-level basement carpark with more than 250 parking spaces.

"The Singapore residential market has continued to show promising signs of recovery," CDL group general manager Chia Ngiang Hong said in a statement.

"Propelled by pent-up demand, sales volumes are strengthening and property prices are trending up, especially for high-end projects with strong value proposition.

"Foreigners are also returning to invest in Singapore's high-end property market, given the city's attractiveness, economic stability, price recovery and value."

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